Business
Strategic Resources Completes Sale of Assets to Red Rock Energy Ltd.
TSX.V: UVR REGINA, June 11 /CNW/ - Strategic Resources Inc. ("Strategic Resources" or the "Corpor...
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX.V: UVR\n\n\nREGINA, June 11 /CNW/ - Strategic Resources Inc. ("Strategic Resources"\nor the "Corporation"), is pleased to announce the completion of the sale to\nRed Rock Energy Ltd. ("Red Rock") of the Corporation's interests in and to its\nmineral claims located near Uranium City in the Province of Saskatchewan (the\n"Sale"). The Sale was approved at a special meeting of shareholders of the\nCorporation held on February 13, 2009. Additional information regarding the\nSale can be found in the Corporation's press releases dated November 28, 2008\nand February 13, 2009 and the letter agreement dated November 24, 2008 between\nthe Corporation and Red Rock (which is available under the Corporation's\nprofile on SEDAR at www.sedar.com).\n\n\nOn closing of the Sale, the Corporation received $75,000 in cash and 5\nmillion common shares of Red Rock (issued from treasury at a deemed value of\n$0.18 per common share).\n\n\nAs a result of the Sale, the Corporation acquired the ownership and\ncontrol of approximately 15.3% of the issued and outstanding common shares of\nRed Rock. Prior to the Sale the Corporation did not own or control any\nsecurities of Red Rock. The common shares of Red Rock are listed and posted\nfor trading on the TSX Venture Exchange under the symbol "RRK".\n\n\nStrategic Resources acquired the 5 million common shares of Red Rock for\ninvestment purposes and has no present intention to acquire further securities\nof Red Rock, although the Corporation may in the future acquire or dispose of\nsecurities of Red Rock, through the market, privately or otherwise, as\ncircumstances or market conditions warrant.\n\n\nAbout Strategic Resources\n\n\nStrategic Resources is a Canadian based junior exploration company with\nan exploration project in Catron County, New Mexico. Strategic Resources has a\nregistered office located at No.800 - 365 Bay Street, Toronto, Ontario, M5H\n2V1. Additional information about Strategic Resources is available on line at\nwww.strategicresourcesinc.ca.\n\n\nForward looking information:\n\n\nThis press release contains forward-looking information which is not\ncomprised of historical facts, including those identified by the expressions\n"intend," "may" and similar expressions. The forward-looking information\nreflects ...